ST. PAUL, Minn. & BOSTON--(BUSINESS WIRE)--3M, through its New Ventures Business, has invested in 7AC Technologies
Inc., a Woburn, Mass.-based developer of high efficiency heating,
ventilation and air conditioning (HVAC) systems that use liquid
desiccant technology to remove humidity from the air. The terms of the
transaction were not disclosed.
“This investment by 3M New Ventures is a highly significant vote of
confidence in our plastic plate liquid desiccant technology,” said Peter
Vandermeulen, CEO and founder, 7AC Technologies. “Being able to leverage
the material and manufacturing expertise of a global leader like 3M is
an exciting strategic milestone for us. We already use a significant
amount of 3M products in our designs. As we move into the
commercialization and volume ramp phase of our development the addition
of 3M to our growing list of partners will serve to strengthen our
ability to bring liquid desiccant solutions to mainstream HVAC
applications.”
Stefan Gabriel, president, 3M New Ventures, said: “7AC’s paradigm
changing approach to ultra-efficient air conditioning is well positioned
to succeed in the fast-growing green building technologies space. In
addition, our investment offers 3M a pathway to an exciting new
strategic direction that is poised to create substantial growth
opportunities for both companies.”
Thomas Hamlin, technical director, 3M Purification Inc., added:
“Conventional HVAC solutions are based on technology that is both energy
intensive and offers limited prospects for energy efficiency
improvements. 7AC’s technology incorporates a novel membrane-isolated
plate design with integrated cooling. This solution provides the game
changing development step necessary to move the HVAC industry to a new
level of performance in terms of energy efficiency based on liquid
desiccant dehumidification technology. We look forward to working with
7AC and applying 3M’s core competencies in support of taking the 7AC
products to market.”
About 7AC Technologies
7AC Technologies develops ultra high
efficiency air conditioning systems that use up to 75 percent less
electricity compared to conventional HVAC technologies. Our liquid
desiccant and plastic membrane plate based air conditioning system
licenses key technology from NREL/DoE and is designed to be a drop in
replacement for existing rooftop HVAC systems on commercial and
industrial buildings. For more information on 7AC, visit www.7actech.com.
About 3M New Ventures
3M New Ventures, headquartered in
Munich, Germany, identifies and invests in highly innovative companies
and disruptive new technologies with strategic relevance for 3M.
About 3M
3M captures the spark of new ideas and transforms
them into thousands of ingenious products. Our culture of creative
collaboration inspires a never-ending stream of powerful technologies
that make life better. 3M is the innovation company that never stops
inventing. With $30 billion in sales, 3M employs about 84,000 people
worldwide and has operations in more than 65 countries.
